Robo-advisers on the rise, CFA survey shows
Robo-advisers will have a significant impact on the financial services industry over the next five years, a global fintech survey by CFA Institute showed.
Wealth Management
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Focus Financial enters Australia after signing up MW Lomax
The US-based partnership of independent wealth management firms, Focus Financial Partners, has expanded its international network to Australia by signing up the Melbourne-headquartered MW Lomax Group.
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Wealth managers losing faith in equities, survey finds
Wealth managers and financial advisers are losing faith in equities according to a new survey from Royal London Asset Management.
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Holborn Assets managing partner Reg Ormond dies suddenly
Managing partner of Holborn Assets, Reg Ormond, has died at the age of 50 from a sudden heart attack.
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Deutsche AM revenue down 12%, Wealth down 8%
Deutsche Asset Management reported a net revenue decrease of 12% in the first quarter, dropping to €736m (£571.2m, $832.4m) from €840m in 1Q15.
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‘Respectable’ results see Schroders AUM hit record
Better-than-expected institutional net flows helped push group assets under management to a record £325bn ($473.6bn, €418.7bn) in the first quarter of 2016, Schroders said on Thursday.
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UAE regulator SCA extends scope to cover financial planning
The Securities and Commodities Authority (SCA) in the UAE has amended its regulations to enable licenced advisers to offer clients a full financial planning service, creating a “distinct line” between its remit and that of the Insurance Authority.
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Australia’s NAB restructures HNW business
The National Australia Bank Group, one of the country’s big four banks, has restructured its high net worth (HNW) business, which will see its private banking arm renamed NAB Private.
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Returns on China’s WM products to shrink
A lack of quality investment targets will pose a challenge for Chinese wealth managers this year, a new report by Cerulli Associates said.
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Asset and wealth mgt confidence hit by volatile markets
The asset and wealth management industry has seen its first significant fall in confidence since the winter of 2011, according to a joint report from the CBI and PwC.
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UBS WM reports Asia income growth
UBS Wealth Management, part of Swiss bank UBS, said income from its Asian operations rose in 2015 while other regions were down.
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EFG opens onshore business in Chile
Swiss private banking group EFG International was granted regulatory approval this week to open an onshore business in Santiago, Chile.